Despite the lingering uncertainty about our economy, we continue to see considerable strength with upper end property sales throughout our area in 2010.

  Through the end of October, property sales over $1 million reported through the MLS® system of the Georgian Triangle Real Estate Board are up 92%, totaling 25 sales this year as compared to 13 in the first 10 months of 2009.  There have been 17 sales between $1 and $1.5 million so far this year, up from 10 last year representing an increase of 70%.  More significantly, sales over $1.5 million total 8 compared to just three last year a whopping 167% increase. 

  The highest sale to date was a post and beam ski home/chalet in the Blue Mountains which garnered a $2.55 million sale price was 94% of the $2.7 million list price.  If you think that's high, we have a long way to go to match the sale of a ski area property in Aspen Colorado.  A sale recently closed in Aspen for  West Buttermilk Ranch at $31.5 million, the highest price paid in 2010 for an Aspen area property. 

The 44 acre estate includes a 13,877-square-foot main house with two master suites, four guest suites, five full baths, and four half baths.  It also features a 4,517-square-foot, eight-stall horse stable a 1,112-square-foot guest house with two bedrooms and a one bath, a great room with a large fireplace, “old-world” wood, steel beams and large plank floor, a bar and service area for entertaining. a private office with fireplace, bath, shower and deck, a private guest suite with three bedrooms and a lower level media room including a wine room with a tasting table.

While million dollar sales are on the increase, I don't think I'll live long enough to see a sale of this magnitude in our area.  In ski country there seems to be a direct correlation between the size the mountain and the price of properties proving yet again, size does matter.